Know Who Controls The Money: That’s Where The Power Is

A smart goal in business is to make a clear a path as possible between your customers and you.

Meaning, if someone buys something that you told them about, their money (what they paid for the product/service) should go straight to you or your business.

Every time money passes through others’ hands, those hands take their cut. By the time the money gets to you, a lot that was there isn’t there anymore.

But maybe you want strategic partners in your business. Perhaps you wouldn’t know what to do if you had to do it all alone.

Fine.

In this case, ideally, the customer still pays you, and you pay everyone else.

Here, you’re in control of the process. And control = power. Whomever controls the money, has the power. Always remember this. [shareable cite=”@DreAllDay”]Whomever controls the money, has the power.[/shareable]

(Easy shortcut to knowing who controls the money: look at the Signature line on the front of your checks.)

If some person or entity you do business with collects the money and subsequently pays you, they have the power. (A 50/50 venture is an exception; someone has to collect the money. In this case, both parties can clearly see what’s coming in.)

Yes, even if they’re paying you what you consider to be “a lot” of money. If they’re paying you that much, how much do you think they’re making?

They wouldn’t be in business long if they paid out more than they kept. They pay you that, and they’re still making a profit – thanks to your work. I’ll go deeper into this on my podcast in the future.

This thought process isn’t for everyone, though.

Some people are comfortable getting paid. Many people want as little control as possible – because while control does equal power, it also carries responsibility.

And responsibility is a job very few ever interview for. Always remeber this.